Insurer launches mugging policy

IF you‘re unlucky enough to be the victim of a mugging or a road rage attack, a new insurance policy promises to make you feel better with a cash payout.

Statistics published by the Home Office show an estimated 388,000 adults are mugged every year – equivalent to one every 90 seconds.

To make matters worse, as a nation we come top of the European anger tables, with 90% of motorists having experienced some form of road rage.

So the idea of having insurance to protect you in the event of a mugging or road rage may not be as off the wall as it first seems.

The Body Guard policy, launched by Acumen Insurance claims to be the first UK policy to cover people for street crime.

For an annual premium of £16.99 for an individual policy, or £30 for a couple, the Body Guard policy includes up to £25,000 for death and permanent injury including loss of sight, hearing or speech.

Customers can also claim £100 a night for hospital stays, for up to 30 nights, up to £250 for personal possessions lost during the crime and up to £100 to replace stolen cash.

It will also pay out up to £150 towards the cost of having the locks changed if your keys are stolen. There is no excess on the policy.

Kevin Kenny, director of Acumen Insurance, said it had launched the policy in response to people‘s concerns over safety.

'The level of street crime in the Uk is still alarmingly high and tempers on the road are getting worse,' said Kenny.

'Although street crime is high on the political agenda, the public is increasingly concerned about personal safety with surveys showing over 40% are specifically worried about mugging.'

So what‘s the catch? Well you need to be between the ages of 21 and 75 to take the policy out. You also need to be resident in the UK, although it includes cover for up to 30 nights holiday abroad every year.

If you have been the victim of a street crime you need to file a police report 'within reasonable time'. According to Acumen, this is typically within six hours of the assault or robbery. However, it accepts there are cases where this will not be possible, for example, if you are in hospital with injuries.

You will also have to prove physically that you have been attacked. This means asking to see a police or hospital doctor and asking them for written confirmation that you have been assaulted.

Unfortunately this means it is inevitable some people who have genuinely been a victim of street crime could have their claims turned down. After all, if someone points a gun at you and asks for your money, resisting is not really an option.

But unless they physically harm you there may be no proof of the assault, so your claim could be rejected.

Kenny admits this will 'sometimes' be the case, but said:

'We believe this type of situation will be rare. But where there is no physical evidence of crime the underwriters cannot realistically do anything other than turn down the claim.'

But this will be little compensation to victims with no evidence to prove otherwise.

However, in the meantime if you are worried about personal safety it may be worth taking a look at the Body Guard. At £16.99 it‘s a lot cheaper than the real thing.